Just found this online and it makes me very happy. Its basically Ghostbusters 3 with all the original cast doing the voices and it takes place in the early 90s. The screen shot is very promising in the first article. Cheers to all my fellow roo nerds who may be intrested in this.
good news indeed, last i heard the project had been cancelled but it looks like it's been resurected. The screenshots i seen earlier in the year look sharper, and no more unreal engine but it still should be a sweet game.